US Stocks Soar by $2 Trillion as Bitcoin Struggles to Follow

The US stock market has surged by $2 trillion in recent months, but Bitcoin has remained largely unaffected. The S&P 500 index rose 3.12% this month, pushing its market capitalization to a record high of $70.5 trillion.

Data from WoofunAI shows that the strong performance of tech-heavy indices like the Nasdaq and Dow Jones was driven by sector-specific factors in artificial intelligence and semiconductors. This has led Adam Heims, head of asset management at TesseractGroup, to note that Bitcoin's price action is not directly influenced by these trends.

Rising oil prices and the resumption of shipping through the Strait of Hormuz have supported risk assets, but their impact on equities was quickly reflected in lower corporate costs. In contrast, Bitcoin's price movement is more closely tied to inflation expectations and Federal Reserve policy transmission.

The crypto market faces multiple internal pressures that limit its upside potential. A $120 million Coldcard vulnerability exploit has damaged market sentiment, while uncertainty surrounding the Clarity Act persists. MicroStrategy (MSTR.US) has sold Bitcoin for three consecutive months, further weighing on the market.